Chairman of the Financial Services Commission of South Korea: The stablecoin bill will be announced within the year.

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[Chairman of the Financial Services Commission of South Korea: The stablecoin legislation will be announced within the year] The Financial Services Commission of South Korea stated that it will finalize the “Virtual Asset User Protection Act (Phase II)” legislation, which includes a regulatory framework for stablecoins, within this year and submit it to the National Assembly for review. To accelerate the legalization process of stablecoins, it plans to simultaneously advance the submission of the legislation and the preparation of implementation rules. During the National Policy Review held by the Congressional Affairs Committee on October 20, Chairman Li Yiyuan responded to the inquiry from Democratic Party member Liu Dongxu regarding the timing of the submission of the second phase of the virtual asset legislation, stating that it has now entered the final coordination stage with relevant departments and is expected to be submitted by the end of the year.

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